Short Interest in Healthcare Services Group, Inc. (NASDAQ:HCSG) Rises By 14.2%

Healthcare Services Group, Inc. (NASDAQ:HCSG) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 2,603,317 shares, a growth of 14.2% from the March 31st total of 2,279,628 shares. Approximately 3.9% of the company’s stock are short sold. Based on an average daily trading volume, of 674,301 shares, the days-to-cover ratio is currently 3.9 days.

Insider Activity

In other news, CAO Andrew M. Brophy sold 2,490 shares of Healthcare Services Group stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $21.75, for a total transaction of $54,157.50. Following the completion of the transaction, the chief accounting officer directly owned 15,735 shares in the company, valued at $342,236.25. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Christopher Shea sold 54,357 shares of Healthcare Services Group stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $20.41, for a total transaction of $1,109,426.37. Following the transaction, the executive vice president owned 29,292 shares of the company’s stock, valued at $597,849.72. This represents a 64.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 146,962 shares of company stock worth $3,014,100 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Healthcare Services Group

Several hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Healthcare Services Group by 3,547.6% in the first quarter. Fifth Third Bancorp now owns 16,779 shares of the business services provider’s stock worth $311,000 after acquiring an additional 16,319 shares during the period. Hsbc Holdings PLC raised its position in Healthcare Services Group by 173.3% in the first quarter. Hsbc Holdings PLC now owns 57,353 shares of the business services provider’s stock worth $1,052,000 after acquiring an additional 36,367 shares during the period. Y Intercept Hong Kong Ltd raised its position in Healthcare Services Group by 616.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 74,230 shares of the business services provider’s stock worth $1,377,000 after acquiring an additional 63,866 shares during the period. Louisiana State Employees Retirement System bought a new stake in Healthcare Services Group in the first quarter worth about $579,000. Finally, Ritholtz Wealth Management raised its position in Healthcare Services Group by 195.8% in the first quarter. Ritholtz Wealth Management now owns 155,860 shares of the business services provider’s stock worth $2,891,000 after acquiring an additional 103,161 shares during the period. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

HCSG stock traded down $0.11 during mid-day trading on Friday, hitting $21.30. The company had a trading volume of 517,827 shares, compared to its average volume of 798,435. The firm has a market cap of $1.46 billion, a PE ratio of 22.19 and a beta of 0.85. Healthcare Services Group has a 12 month low of $12.66 and a 12 month high of $24.39. The stock’s fifty day moving average price is $20.05 and its two-hundred day moving average price is $19.19.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.22 by $0.15. The business had revenue of $462.77 million for the quarter, compared to analyst estimates of $479.79 million. Healthcare Services Group had a net margin of 3.67% and a return on equity of 17.81%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities analysts anticipate that Healthcare Services Group will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

HCSG has been the topic of several analyst reports. UBS Group boosted their price target on shares of Healthcare Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a report on Friday, February 20th. Wall Street Zen upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating in a report on Sunday, March 29th. Robert W. Baird set a $23.00 price target on shares of Healthcare Services Group in a report on Thursday, February 12th. Finally, BMO Capital Markets boosted their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.